Market Currents
Not to be unexpected at this (frothy) stage of the cycle, but junk bond issuance is getting...
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Tuesday, October 23, 2012, 10:44 AM ETNot to be unexpected at this (frothy) stage of the cycle, but junk bond issuance is getting junkier. The share of bonds rated CCC or lower climbed to 26% of those issued in September, according to Fitch. The trailing 12-month default rate slipped to 2% in September, but it's hard for defaults to rise while borrowing conditions are so easy. Remember your reflexivity lessons.
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